BRICS Plans to Shift From US Dollar

The BRICS economic alliance is preparing to deploy a geopolitical game-changer by launching a decentralized banking system to abolish the US dollar

Indeed, the bloc is considering adopting such a system with the BRICS+ Business Council, which may become official policy within the following year.

The device, dubbed The Unit, is designed to address the expanding issues of geoeconomic finance. Furthermore, the system is poised to deploy cross-border payment solutions and a newly implemented international currency within the BRICS framework.

The BRICS Decentralized Finance System Will Challenge the US Dollar

Over the last year, the BRICS economic alliance has led a global shift toward de-dollarization. In response to the West’s currency weaponization, many countries worldwide seek diversification. Subsequently, the bloc plans to build a system to improve that trajectory significantly.

The BRICS economic alliance plans to develop a decentralized financial system to replace the US dollar. According to Sputnik Global, the Unit will address some of the most pressing obstacles to geoeconomic development. Furthermore, it aims to transform international trade and transactions radically.

The system wants to propose a transactional unit using a brand-new worldwide currency. This would be issued decentralized and recognized in national regulatory standards.

The solution is also designed to work with traditional and modernized digital banking infrastructures. Furthermore, the paper states its primary goal is to “remove direct dependency on the currencies of other nations.” Subsequently, the currency would be 40% gold and 60% BRICS currencies.

Furthermore, the breakthrough would help to strengthen several of the alliance’s most significant endeavors. Its de-dollarization measures would be supported throughout the system. Meanwhile, it would concentrate on incorporating local currencies into its development.

The Unit aims to become a BRICS policy by 2025, accelerating joint currency initiatives. With the 2024 summit expected to make some significant revelations, the creation of such a system could be presented via an official disclosure.